Wednesday night, President Obama tried to press the reset button on his disastrous presidency and once again fell short. After driving up record deficits and wasting $800 billion on a failed stimulus bill that has only stimulated our debt, Obama’s disingenuous proposals to create jobs and reduce our debt are far too little and much too late.

The small business tax credits and exemptions he proposed, while important, pale in comparison to the tax cuts needed to get Virginians back to work. The $15 billion spending cut he proposed for next year also pales in comparison to a projected $3.5 trillion budget.

There is a better way.

We must reduce the corporate income and average small business tax rate, as well as eliminate the capital gains and death tax entirely. These tax cuts will incentivize businesses to open shop in America, expand its operations, and hire more workers.

To restore our fiscal sanity, government must practice what American families are doing everyday, keeping their spending below their revenues. To reach this goal I propose we place a hard cap on government’s spending to the amount of revenue it took in the prior year.

Together we can achieve these reforms that are so desperately needed.

Laurence Verga is a candidate for the Republican congressional nomination in the Fifth District.

Team of Destiny: Inside UVA Basketball's improbable run

Team of Destiny: Inside Virginia Basketball’s Run to the 2019 National Championship, by Jerry Ratcliffe and Chris Graham, is available for $25. The book, with additional reporting by Zach Pereles, Scott Ratcliffe and Scott German, will take you from the aftermath of the stunning first-round loss to UMBC in 2018, and how coach Tony Bennett and his team used that loss as the source of strength, through to the ACC regular-season championship, the run to the Final Four, and the thrilling overtime win over Texas Tech to win the 2019 national title, the first in school history.

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Augusta Free Press launched in 2002. The site serves as a portal into life in the Shenandoah Valley and Central Virginia – in a region encompassing Augusta County, Albemarle County and Nelson County and the cities of Charlottesville, Staunton and Waynesboro, at the entrance to the Blue Ridge Parkway, Skyline Drive, Shenandoah National Park and the Appalachian Trail.